Bloomberg
Published Jan 29, 2020 02:07PM ET
Updated Jan 29, 2020 02:27PM ET
(Bloomberg) -- U.S. stocks climbed as the Federal Reserve signaled it will remain on hold and after a flurry of solid earnings from bellwethers.
The S&P 500 Index held on to to its gains after the central bank signaled policy is “appropriate to support sustained expansion of economic activity.” Strong results from Apple Inc (NASDAQ:AAPL). and General Electric (NYSE:GE) Co. pushed equities higher, with the iPhone maker surging to a record. Boeing (NYSE:BA) Co. rallied on news the planemaker burned less cash than expected. Treasury yields slid, while the dollar rose.
Fed Leaves Main Rate Unchanged, Saying Policy Is Appropriate
Markets have calmed somewhat from the coronavirus’ initial blow as the earnings season continued to roll in. With the highly anticipated Fed decision, investors have shifted their focus to corporate signals on how the viral outbreak may affect their operations. Heavyweights including Facebook Inc (NASDAQ:FB)., Microsoft Corp (NASDAQ:MSFT). and Tesla (NASDAQ:TSLA) Inc. report results after the close.
Some other corporate highlights:
Here are some events to watch out for this week:
Stocks
Written By: Bloomberg
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